METROPOLIS : In the best of health

Metropolis post its results on 6th Feb did meet with some heavy profit booking that dragged the prices lower by 150 points. However, the momentum in this counter continues to remain upbeat. The dip provided a good opportunity to some strong hands to reenter and quickly place the stock back in contention. On the charts we note that the trends post a steady consolidation at higher levels is keen to take off. The charts reveal that the support offered by the KS line has proved to be quite good and the long body candle formation at the TS does augur well for the prices. With volumes building up we can expect the prices to begin a new journey towards the region of 1850 in the next few weeks. Looking at the Awesome oscillator we can observe that the trend is suggesting that there has been a pullback and it would be appropriate to enter at this moment.


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